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^ looks like the text cut and paste got mangled / doubled
i can't figure out what it is about. it seems to be missing key words. it's like it was created with a financial equivalent of a post-modern text generator. |
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...
so perhaps the trading price will just random walk between say, $5 and $40.
now what?
buy at $6 and sell at $39? yep. and as more speculators enter the equation, the margins get more narrow. that's a good thing. it means a BTC merchant can price his goods with relative confidence. I look forward to lots and lots of speculators with lots and lots of bots operating on the thinnest margins possible. |
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But it is true! here is the proof.  because you'll believe anything.  |
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I don't know how exchanges are regulated. I don't know what typical practices are. But this bothers me more than a little. I didn't have a gox account and I certainly don't intend to get one now.
Like I say, maybe their business practices are typical but...
1) why is the auditor unnamed? that should have been public information both before and after the incident.
2) why does an auditor have a copy of the exchange database (read-only or otherwise) on an unsecured machine?
3) why does the copy of the exchange database include the email and password columns?
these are just a few questions.
have any of these questions been answered in another thread? |
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I don't know how exchanges are regulated. I don't know what typical practices are. But this bothers me more than a little. I didn't have a gox account and I certainly don't intend to get one now.
Like I say, maybe their business practices are typical but...
1) why is the auditor unnamed? that should have been public information both before and after the incident.
2) why does an auditor have a copy of the exchange database (read-only or otherwise) on an unsecured machine?
3) why does the copy of the exchange database include the email and password columns?
these are just a few questions.
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Easily be stopped? Hardly. You have to realize that the government is slow to react. Even if the US outlaws bitcoins or another countries does then there are still 200+ other countries where it is legal.
Easily. If there is one persistent fallacy that is repeated over and over again on these forums, that needs to be put to rest it's this "Bitcoin is unstoppable" and "we don't need anyone" foolishness. The Developers don't think it's unstoppable- and they know the code back to front. ...[redacted truth for brevity] So can it with the "unsinkable ship" "they can't stop us" talk. Yes. They. Can. That does not mean they will- but it's pure hubris of the most ignorant sort to think it can't. Everything in that post is right on the mark. It should be posted as a sticky. New members should have to read it and sign it like a microsoft license agreement. |
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Bruce - re-reading my post, it looks like this was a personal attack on you, and I guess it somewhat was. This was not my intent and I do apologize. I actually enjoy reading your stuff and think you bring a ton (way more than I have, or am likely to!) of value to the community. I just hate to see Bitcoin develop a PR problem because we as as a community can't do something as simple as having reasonable, respectful, and *truthful* conversations with detractors. Trying to tell people not a single person has used a bitcoin for Silk Road purchases for example I believe is counter-productive to the cause - it's a completely made-up fact that is demonstrably false. Otherwise, let the revolution continue! It takes all types, and the community diversity is what will make this idea take hold and become strong!  -Phil I said: Not a single person I KNOW has used Silk Road. Bruce, you don't KNOW that either. The best you can say is, 'Not a single person I KNOW told me they were using Silk Road.' I heard about Bitcoin through the Sacramento Bee article about Silk Road. Anyway, no press is bad press when it comes to Bitcoins. |
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each block can be traced back to the originator (in this case, allinvain), or am i misunderstanding.
I think you're right. I 'll have to double check or ask someone smarter then me about that. But I don't believe that changes culpability. culpability for what? if you publish your wallet send-to address and i send you coins, you get the coins whether you want them or not, |
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If 10BTC showed up in my account that originated from allinvain account and passed through <random number> other accounts,
could I be prosecuted? The first thing, that it would be extremely difficult to determine if it actually came from allinvain, as each transaction would have been made with a new send and receive address. Secondly, there would need to be some sort of culpability on your part. If you suddenly had 10 BTC show up in your account, were you paid off, were you involved in some way in the (supposed) crime? A real world equivalent would be a crime was committed and then money was deposited into your checking account from that crime. You would be culpable if you were involved, aided, and or supported the crime that took place. each block can be traced back to the originator (in this case, allinvain), or am i misunderstanding. |
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I have a whole corner of my garage full of leftover stuff (novelty items mostly) from a business my wife and I once owned. I've considered several times selling it piecemeal on ebay but never got aroundtoit.
Is there an BTC ebay-esk website where I can put this stuff up for sale? I'm going to let it go for pennies on the dollar (bits on the BTC?) but danged if I can find a place.
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Does anyone want to take a stab at this question?
If 10BTC showed up in my account that originated from allinvain account and passed through <random number> other accounts, could I be prosecuted?
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You would have to check (via what ever Government you're under) and see what the laws say.
Technically everyone using BTC in North America is breaking the law (as BTC is an un-taxable good/service). You would have to quote me the law you suggest is being broken. I don't think there is any such law (yet). Then there is the fact of tracing the blockchain to track and see where he/she goes. If 10BTC showed up in my account that originated from allinvain account and passed through <random number> other accounts, could I be prosecuted? |
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Can a BTC thief be prosecuted?
Stuff happens. It would be nice for the BTC client to have built-in security but reading allinvain thread in the BTC forum, you have to admit that he was almost begging someone to hack him. He even had prior warnings he was compromised and he ignored them. His wallet may have held a potential value of $500m but he certainly wasn't treating it like that.
This does raise interesting questions about what recourse he has. Will law enforcement even investigate? Would they even understand the crime? Can allinvain even prove a crime occurred?
If they do investigate, they can certainly trace the booty as it is dispersed to other accounts, but can they prosecute if they 'catch' someone with it? More to the point, can they prosecute holders of the accounts to whom the original sum was distributed? Suppose the thief disperses to a thousand different accounts and starts selling them on MtGox in 100BTC increments? Anyone can claim the money just appeared in their account. Who's to argue?
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Hi! Rob Lister here. Thanks for allowing me to login and post.
I heard about bitcoin about two weeks ago. I saw the utility in it and so, read as much as I could about. Very cool. Very useful. Great potential. I downloaded the client played with it a bit. I have a ZERO balance. Therefore, someone should donate to me .02 bitcoins at 18qYFEWpXPWTTbnyTHhKxNJix371Uw2HmC
just kidding (ok, no i'm not)
Anyway...
I am intentionally retaining a degree of skepticism because I don't have a degree in computer science and have to take a lot of stuff on faith; stuff about the bitcoin markets, stuff about the currency architecture, stuff about the potential legal problems...lots of stuff. For each item of 'stuff' there are threads galore on this forum (and others). I'm reading about it. I get the basics: you might even say i'm convinced of the basics. I've seen no argument against the currency that holds water, or at least no argument that could not equally apply to the Dollar, the Pound or the Deutschmark.
So, I'm not going to outright buy any bitcoins, but if I can find an ebay-esk type website that will allow me to sell stuff, I'll do that. Any links?
Also, is there an Alt-key that gives the bitcoin currency symbol?
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